Should you further your studies?

A good read and analysis for those planning to further studies for all types of reasons.

Should you further your studies?
To remain relevant in today’s competitive job market, it is important to constantly upgrade your skills and qualifications. However, the decision to further your studies cannot be taken lightly. Ask yourself the following questions before deciding if it’s time to hit the books again…

By Melody Tan

Why do you want to further your education?
You need to have a clear objective of what you hope to achieve from taking the additional qualification. For example, if you want an MBA to get promoted and make more money, find out if companies really pay more for MBA graduates.

Can you afford the education?
You need to consider actual course costs, how you’re paying for it, as well as opportunity costs of income loss. Kevin Ng, for instance, quit his job as a Customer Service Engineer to take up a full-time Bachelor’s degree course in Business Management at SIM in 2006. The three-year course cost the 26-year-old more than $29,000. “I managed to pay for it with my savings and some help from my parents. But I had to sacrifice my monthly pay of $1,150.”

Part time or full time?
This choice is highly dependent on the amount of time and money you can spare for the course. Full-time students get to concentrate on their studies, but they need to have the income reserves as they won’t be able to work.

Sharon Lim, 30, chose to take up a part-time advanced diploma followed by a degree course in Mass Communications from MDIS a few years ago instead. She says, “It was tiring as I had to work in the day so I could pay my school fees. However, I enjoyed the course because it’s something I’m interested in.”

She had to attend classes twice a week for three hours each in the evenings, as well as fork out time to do her homework. The two courses took her about three years to complete, and cost her more than $25,000.

Which school to enroll in?
It is crucial that you invest your time, money and education in a reputable, stable and recognized school. Do your homework, look through the different school prospectuses and ask around before making your choice.

Are you mentally ready to go back to school?
Studying life is very different from work life. You have to adjust to a life of mugging for exams and completing assignments.You also have to juggle study and family commitments, with less time and less money. So make sure you’re prepared before you take the dive.

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